Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
Doing some research...
Over 2021–2024 Lucid’s reported total assets grew from $7.88B to $9.65B (+~22% cumulative), with most of that growth occurring in 2023–24 as the company appears to scale up capital and working‑capital intensity consistent with EV manufacturers ramping production and factory build‑out. Liabilities fell modestly in 2022 (from $3.97B to $3.53B), then increased to $4.48B by 2024 (≈+12.7% vs. 2021), which could reflect higher payables, project financing or other operational borrowing as production expands. Stockholders’ equity rose from $3.91B in 2021 to $4.85B in 2023, then fell sharply to $3.87B in 2024 (a ~20% drop vs. 2023), meaning the company’s equity cushion weakened even as assets increased. One important caveat: the 2024 line items are internally inconsistent—assets minus liabilities (9647.931 − 4475.277 = 5172.654) does not equal the reported equity ($3.87B); there is an unexplained ~\$1.30B gap. That suggests a data error or additional balance‑sheet items (noncontrolling interests, reclassifications, or adjustments/impairments) not reflected in the three columns provided. Also the 2025 row is all zeros (missing). To explain the 2024 equity decline and liability increase conclusively, you should verify the raw filings and review the 2024 income statement and statement of changes in equity for one‑time charges, impairments, financing transactions, or ownership changes. Overall, the pattern is typical of a capital‑intensive EV company ramping production: rising assets and financing needs, but the 2024 equity drop and the data inconsistency warrant closer investigation.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.